News

Only way to rebuild the economy is the IMF – President

Published

2 years ago

February 21, 2023

editor

President Ranil Wickremesinghe has acknowledged that the International Monetary Fund (IMF) is the only institution that can support a struggling country like Sri Lanka, and therefore, if there are alternative proposals to the government’s program, he is willing to provide the opportunity to submit them to the IMF.

He also criticized political parties for playing games and lying to the people without presenting their proposals.

“There is only one way to rebuild this collapsed economy. That is the International Monetary Fund. Different political parties are presenting different stories. I suggested to them to let me know if there is another way to resurrect the collapsed economy,” he said.

The President said this during a meeting with businessmen and lawyers in the Kandy district.

He also noted that the government has completed 15 points assigned during the negotiations with the IMF.

“The government started negotiations with the International Monetary Fund last August. Accordingly, it was possible to agree on the staff level agreement in September. They assigned us fifteen tasks to complete. The International Monetary Fund gave us until December 31 to implement it. But we couldn’t do it on that particular day. Then we made plans to get time until January 31st. Even at that time, we were unable to complete those 15 points. Finally, the deadline was pushed back to February 15. By 06:00 pm on February 15th, we completed all that was expected of us and sent them to Washington.”

“Only one of these fifteen issues was being delayed. It is related to the increase in electricity tariffs. The Electricity Board incurs Rs.230 billion each year in losses. According to the International Monetary Fund, government taxes should not be used to support institutions. It was informed that if this occurs, the International Monetary Fund will not provide assistance. However, one person in this country opposed the decision to increase the electricity tariff.”

“As a result, receiving assistance from the International Fund was delayed by six weeks. Alternatively, we could have completed this by the end of January. All 15 tasks assigned to us have been completed. Now it is up to the International Monetary Fund.”

News

13 reservoirs reach spill level

Published

10 minutes ago

January 13, 2025

editor

The Water Management Branch of the Irrigation Department has said that a total of 13 reservoirs have started spilling due to high rainfall in the catchment areas.The reservoirs of Mahakandarawa, Mahawilachchiya, Nuwara Wewa, Rajangana, Unnichchi, Muruthawela, Weerawila, Ellewela, Wemedilla, Mediyawa, Usgala, Ethimale and Wan Ela, have all reached spill level in this manner.

News

Schoolgirl abducted in Kandy found in Ampara, suspect arrested

Published

18 minutes ago

January 13, 2025

editor

Police have located the schoolgirl abducted in Daulagala, Kandy on Saturday (11).

The schoolgirl, along with the primary suspect involved in the abduction have been found by the police while they were boarded on a luxury bus that was scheduled to depart for Kandy near the Ampara Bus Stand today (13).

However, the suspect has now been arrested and the interrogations of the girl and the suspect are underway.

The abduction took place on the morning of January 11, 2025, in the Daulagala Police Division. Preliminary investigations had revealed that the primary suspect is a close relative—the son of the girl’s father’s sister.

Police said that the suspect abducted the girl following a disagreement over their proposed marriage. Initially, both families had consented to the union, but the girl’s father later withdrew his approval, triggering the conflict, according to police.

The schoolgirl, a resident of Handessa, was abducted on the morning of January 11 while on her way to school with a friend.

The van used in the abduction was discovered abandoned in Polonnaruwa by local police the same day. Subsequently, officers from Daulagala Police apprehended the van driver, a 30-year-old resident of Kahatapitiya, Gampola, in the Gampola area on January 12.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

Related News :

More details revealed on abduction of schoolgirl in Daulagala

News

President AKD to leave for China today

Published

26 minutes ago

January 13, 2025

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President Anura Kumara Disanayake is set to depart the country this evening (Jan. 13) for a four-day state visit to the People’s Republic of China.

This visit, taking place from Jan. 14 -17, is undertaken at the invitation of Chinese President Xi Jinping.

During the visit, President Disanayake will hold discussions with President Xi Jinping and Premier Li Qiang, as well as engage with other senior Chinese officials to strengthen diplomatic ties.

The agenda includes key focus areas such as technology, agriculture, and poverty alleviation. The President is also scheduled to visit strategic facilities and participate in high-level business forums aimed at enhancing economic collaboration and investment opportunities.

A series of bilateral agreements to deepen mutual understanding and cooperation between Sri Lanka and China will be signed during the visit.

This marks President Disanayake’s second international state visit since assuming office and is considered a pivotal step in fortifying the longstanding partnership between Sri Lanka and China. It is anticipated that the visit will significantly advance bilateral relations, particularly in the areas of trade, investment, and economic cooperation.

(President’s Media Division)